TGP Investments Announces the Acquisition of Northeast Quality Services, LLC
Kansas City, MO – TGP Investments II, LLC, the manager of private equity investment fund TGP Capital Partners II, LLC, is pleased to announce that the fund, along with incoming CEO Gregg Notestine, has acquired Northeast Quality Services, LLC (“NEQS”). NEQS, based in Cromwell, Connecticut, provides precision machining and assembly services. The company has 48 employees and operates in a leased facility totaling approximately 42,000 square feet. The company has a wide variety of machining capabilities, including multi-turret lathes, swiss and turn/mill lathes, along with horizontal and vertical milling capabilities (www.northeastquality.com).
TGP believes NEQS makes a great platform company to partner once again with Gregg Notestine. Gregg was the CEO of Tru-Flex Metal Hose, LLC, a portfolio company owned by TGP Capital Partners, LLC from 2010 through 2013. During that time Tru-Flex grew revenue from $18 million to $47 million and significantly increased profitability. Shane Parr, TGP Managing Director stated, “I want to thank the Coppola family for having the trust in TGP and Gregg to continue the success that NEQS has achieved over the last 40 years. The opportunity to work with Gregg Notestine once again is very exciting. Gregg is a tremendous leader and operator and really understands how to optimize manufacturing environments and help companies grow. I look forward to supporting Gregg’s plan for internal growth and acquisitions and help build the team over the next several years.”
Gregg Notestine, NEQS CEO stated, “It’s great to team back up with TGP on the acquisition of NEQS. Together we had great success at Tru-Flex and I’m looking forward to replicating that success at NEQS. Like many small businesses, NEQS already has a great management team in place. We can augment that team with a few key manufacturing and financial players to unleash the company for rapid growth and improved profitability. These added resources will also help support the expansion of our footprint in the northeast. It’s an exciting opportunity.”
About TGP Capital Partners
Kansas City-based TGP Capital Partners, LLC and TGP Capital Partners II, LLC are private equity investment funds formed to make investments in well-managed, profitable and growing middle-market companies. TGP is a sponsor of quality managers and management teams with a goal of supporting and facilitating management’s growth initiatives and, as a result, maximizing returns for all shareholders. The fund seeks to make both control and minority equity investments in partnership with proven management talent in manufacturing, distribution, and business services companies.
For More Information
Shane C. Parr
TGP Investments, LLC
4900 Main St. Ste. 900
Kansas City, MO 64112